The Michigan Daily - Thursday, September 6, 1984 - Page 15 FUNDS AVAILABLE FOR NEED Y STUDENTS Federal aid levels remain stable By DAVID VANKER Students who can't afford a college education gained yet another reprieve this year, as the federal government h'ld its major financial aid programs ator near last year's levels. Soaring tuition - at $1,212 per term for juniors and seniors, the highest of any public school in the country - and rising living expenses drove almost 119,500 University students to apply for assistance from the financial aid office for the 1983-84 academic year. 12,081 of, them split the more than $49 million in funds administered by the office. THOUGH FIGURES for 1984-85 are not yet available, Assistant Financial Aid Director Lynn Borset said she ex- pects the situation to stay pretty much the same. "We've skated through a little bit on ( he federal funding)," Borset said, probably because it's an election year." ,Most recipients of aid will get slightly more money this year than they did last year, Borset said, because the financial aid office has revised its projected student budgets to reflect increases in tuition, room and board, and other ex- penses. aTo be considered for assistance from Borset's office, students who are alleady enrolled must fill out the Un- iversity's standard application for aid and submit the Family Financial Statement to the American College Testing Program. The deadline for the fall and winter terms is in mid-April, and ACT charges about $15 for its ser- vices. Incoming freshman who wish to be considered for aid should check the ap- propriate boxes on their admissions application and submit either of the family financial forms (FFS or FAF) to ACT. The deadline for freshman is May 15, but Borset's office will accept ap- plications through the end of Septem- ber. Even after the deadlines, students are considered for aid if any funds are available. STUDENTS SEEKING aid have a staggering array of programs at their disposal, through both the Financial aid office and the various departments and institutes within the University. Major sources of assistance available through the financial aid office include: " Supplemental Educational Oppor- tunity Grants (SEOG) - Available only to undergraduates, these federally- funded grants are awarded on thie basis of need as determined by an ACT for- mula, which takes into account family and student income and savings. Federal support for supplemental gran- ts will remain around the 1983-84 level of $1.2 million, and individual grants usually amount to a few hundred dollars per term. " National Direct Student Loans (NDSL) - Both graduate and un- dergraduate students may receive ND- SLs, but as with supplemental grants, preference is given to students who demonstrate the greatest need. Interest on these loans is five percent, and un- dergraduates may borrow a maximum of $1000 per academic year, while while graduates are limited to $2,000 ayear. Payment of an NDSL begins six months after the student leaves school and may be deferred or cancelled if the student enters into public or community ser- vice. " Pell Grants - These federally- funded grants, available to un- dergraduates who attend school at least half-time and are not in the U.S. only temporarily, are awarded to the neediest of the students who apply for assistance through the financial aid of- fice. Government funding for Pell Grants will remain near last year's amount, $5.4 million. " Guaranteed Student Loans (GSL) - The perennial favorite among students who either fail to qualify for other programs or need more assistance than the financial aid office can offer, GSLs are obtained through commercial len- ders and occasionally through the University. Interest for students borrowing for the first time after January 1, 1984 is eight percent, down from nine percent for students who took their first GSLs between 1981 and 1983. Currently, the loan :limit for un- dergraduates stands at $2,500 per year - for a maximum total of $12,500 - and at $5,000 a year for graduate or professional students - for a maximum total of $25,000, including undergraduate loans. But in July, a group of graduate and professional schools asked the Reagan ad- ministration to raise the annual loan limit for graduates to $8,000 and the cumulative limit to $37,000. The government has not yet replied. " College Work-Study Program - Students awarded work-study aid find jobs on campus or with non-profit organizations and the government reimburses their employer for 75 per- cent of their wage. Federal funding for this program will top $540 million this year, but financial aid officials report much of the money goes unused. Many students are also eligible for University merit scholarships, and Borset said her office encourages anyone who needs money for school to investigate all possible sources of financial assistance. i Broke? Check out area stores and 'U' By MARLA GOLD For many who come to the University parental contributions and financial aid often don't add up to cover the costs of tuition, room and board. For these students the only solution is to get a part-time job. Searching for such a job in Ann Arbor may be difficult, but it's not impossible. THE PLACE to check first is the em- ployment board on the second floor of the Student Activities Building. They have listings there for various Univer- sity jobs for secretarial positions to research assistants. Last year over 270 jobs were listed but not all were filled. If you were awarded a work/study position from financial aid, you are guaranteeda job. The pay will usually be no more than the minimum, but the short hours and experience more than make up for that. Work/study is probably the most overlooked of ways to make money -- out of 3,527 openings,. the work/study office was only able to provide 2,652 employees. Since most freshman will be living in a dormitory, be sure to check out em- ployment opportunities in the kitchens, behind the front desks, on cleaning crews, or in the snack bars. It may not be the most glamourous job, but at least the location is perfect. Bars and stores in the campus area are another place to look, but be war- ned - these jobs are harder to get, because the employment numbers are so much smaller than University jobs. The Count of Antipasto restaurant and bar has a large turnover, which the manager, estimates at about 5-10 people per semester. They only hold ap- plications for 30 days, though. Most bars pay minimum wage to bar- tenders and door help, and a little less to waiters and waitresses, but the tips are usually good. Some clothes stores require ex- perience while others do not. Marti Walker, for instance, hires people "depending on how they impress us," said one manager, although the tur- nover there is very small. For a little extra cash at the begin- ning of the term, both University Cellar and Ulrich's, the two textbook stores on campus, hire about 100 extra people to help during "book rush" which lasts about two weeks. The pay is ok - $3.59 per hour - and a few people are able to stay on after book rush ends, as more permanent jobs rpen up. The Student Activities Building at Jefferson and Maynard houses several University divisions, including the Offices of Financial Aid on the second floor. EXVE4IE N6E THE -- -fc . %e s>-~ - J - - - - c - rcCescal - v a~,~ ,Raie 7 ;.,,, {.v-w .wr r . :. nrsily Rhntn by RFRF((A KNIC'FIT School days carry I I.. J 1Kt tt UI-IZI Incoming freshmen walk-many for the first time-up the steps of Angell Hall during orientation last summer. Now, walking up this set of steps is an everyday occurrence for these students. 1I We do all the work. ', Q -- a michiumn m u 'a oK, p? D, lZi ' U-M's award winning, all-campus yearbook, offers job opportunities! GET EXPERIENCE IN: " sales photography * writing * marketing " advertising * editing * reporting * layout The ENSIAN covers all aspects of college life, including: sports, entertainment, organizations, Greeks, campus life, and academics. MASS MEETING i 1 i i ' i, I I E; ,, Just fill out the RUSH SLIP below (or pick one up in thetstore),.and hand it to one of our clerks. Voila! Your books will appear. No searching shelves and pawing through stacks looking for the right book. We maintain an up-to-date list of required texts. And, of course, any changes will bring a cheerful exchange or refund (even for dropped courses). Just return the book with a receipt and in the same condition as purchased. And how much does this service cost? Nothing. We guarantee it. If our prices aren't competitive, we'll refund the difference at any time within two weeks.. What more could you ask? NOTE: Please specify if you want new books. Our clerks are instructed to provide the best quality used books available (and we've got a lot of 'em). OPEN LABOR DAY Monday, Sept. 3-Noon to 5p.m. Check out the back page of the Sports Section for the complete schedule of our Extended Book Rush Hours. ---RUS SLIP LIST (',OUR-SE NUMBER 3-Z V I a.